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      "text": "RECENT ACQUISITION HIGHLIGHT",
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      "text": "2. Based on the hotel purchase price exclusive of the parking structures and incentives.",
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      "text": "4. Onera yield based on the initial investment amount of $5 million.",
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      "text": "3. Est. stabilized yields based on full year underwritten NOI. Onera est. based on year 1 stabilized yields.",
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      "text": "1. Based on the 67 same store hotels owned as of December 31, 2022.",
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      "text": "Summit Same Store (1) 2021 Acquisitions NCI Portfolio AC/Element Miami Onera Fredericksburg Residence Inn Scottsdale Summit Pro Forma Key Highlights\n# of Assets 67 2 27 2 1 1 100 49% Growth\n# of Guestrooms 10,653 230 3,709 264 11 120 14,987 41% Growth\nDate of Acquisition - 2H 2021 Q1 2022 Q2 2022 Q4 2022 Q2 2023 -\nGross Purchase Price - $59MM $822MM $89MM $5MM $29MM - $1.0B Invested\nPrice per Key - $254K $209K (2) $337K $455K $242K - Attractive basis of $225K/Key(2)\nEst. Stabilized Yield (3) - 10-11% 8-9% 8-9% 15-17% (4) 8-9% - Strong stabilized yields",
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